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Information on the Rotary District, Club, Company and Trusts programmes

By
Craig Horrocks
on 9/08/20, 9:00 PM 301 views

An in-depth review of Rotary insurance was started in 2018. This was triggered by a request to join the existing Australian scheme on the creation of Zone 8.

Legislation, RI policy and processes had changed and there were significant differences between the Australian and New Zealand situations. Programmes involving children, in particular high profile cases involving abuse, meant a review was needed.

In 2019 an RFP went out to 4 major brokers in NZ, AON, Marsh, Crombie Lockwood and Apex. Marsh withdrew and Crombie Lockwood, after meetings, declined to participate. AON (the broker for the Zone 8 Australian scheme) and Apex submitted. After the meetings and rounds of responses, in Jan 2020 APEX was appointed the broker to 9910, 9920 and 9940.

APEX then went to the market for those Districts with a detailed insurance Underwriting Submission. Our existing insurer, QBE, after reading the submission, withdrew on the basis it could not provide the covers required.

Rotary in Oceania was fortunate that AIG, one of the top 10 largest insurers in the world offered the best terms.

The new insurance program covers all of the different type of entities in Rotary.

The programme is opt-in.

Each Rotary District, Company, Trust and Club can have its own policy. Optional covers include Cyber risks. The District and Club policies includes the District and Club’s trust and accidental death cover.

Just for the sake of fairness and clarity, Crombie Lockwood declined to participate in the RFP on the grounds that it could see no real advantage to Rotary in terms of cover provided. In fact there was significant concern that the premium cost could potentially blowout. It seems that the average cost has increased from below $100 per Club to now over $600 per Club.

Gary Dome
on 9/08/20, 11:35 PM

Hi Gary Crombie Lockwood did not give any reasons for declining.

This is the email we got:

From: "philippa berry" <Philippa.Berry@crombielockwood.co.nz>

To: "Craig Horrocks" <craig_horrocks@rotaryoceania.zone>

Sent: Thursday, 24 October, 2019 16:24:52

Subject: RE: Accept: Rotary RFP Meeting

Hi Craig

Thanks for the email.

Unfortunately we will not be able to facilitate the programme you are wanting to offer the clubs from this branch.

Based on this, we will sit out the RFP process and continue to run the District Programmes we hold as they currently stand.

Sorry that we are unable to assist with this process for you

If you have any questions or want to discuss this further please let me know.

Regards

PHILIPPA BERRY ANZIIF (SNR ASSOC)

SENIOR BROKER

+64 9 362 4119 | +64 27 801 2999 | crombielockwood.co.nz

philippa.berry@crombielockwood.co.nz

TechCertain Group Limited, Craig Horrocks
on 9/08/20, 11:50 PM

0
Gary Dome
On 10/08/20, 3:42 AM

Do you have any comment on the increase in premium cost per Club from under $100 to over $600? for seemingly no additional cover?

  • Flag

Hi Gary I am not sure this is the right place to provide further answers. I answered you earlier comment to ensure the record was correct. From here is will leave to the ROZops and Apex team. The assertion you are making is not, in my view, correct. Again I will leave to them.

TechCertain Group Limited, Craig Horrocks
on 10/08/20, 4:02 AM

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Asked: 9/08/20, 9:00 PM
Seen: 301 times
Last updated: 10/08/20, 3:42 AM